HONOLULU HOME AND CONDOMINIUM SALES SEE HEALTHY JUMP IN YEAR-OVER-YEAR FIGURES

HONOLULU HOME AND CONDOMINIUM SALES SEE HEALTHY JUMP IN
YEAR-OVER-YEAR FIGURES, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

Download the full report MPR-January2014

HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of January. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

During January, sales of single-family homes and condominiums both increased by 8.4 percent from January 2013. The median price paid for single-family homes in January increased 5.8 percent from the same month last year to $629,500. The median price for condominiums increased 1.6 percent from January of last year to $320,000. According to the Days on Market indicator, single-family homes were on the market for an average of 22 days and condominiums for 21 days.

“January was a good month for the industry, with a healthy increase in the number of homes and condominiums sold compared to January of last year,” said Julie Meier, president of the Honolulu Board of REALTORS®. “There was a substantial drop in the single-family home median price from December 2013, but that’s not unusual and can be attributed to the seasonality of the market. Median sales prices of both single-family homes and condominiums were up year over year.”

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both.

HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,500 boards of REALTORS® in the nation and, with over 5,300 members, one of the largest trade organizations on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry who pledge to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)